Credit, Collections & Insolvency News
Latest ONS statistics highlighting the social impacts of Coronavirus have indicated that one in seven people borrow to pay bills. The research also showed that 81% of people said their cost of living has risen over the past month. When asked how this was affecting them, 22% of people said they were spending their savings.…
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Millions of people are failing to compare lending products from at least two providers and risk not getting the best deal available to them, according to analysis of FCA data from Freedom Finance, The data shows a widespread lack of shopping around across most loan products, and a low-level understanding of terms like APR that…
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Over 1.8 million adults in Scotland have seen their finances get worse during the Covid pandemic, according to new analysis from Citizens Advice Scotland (CAS). Polling for the charity by YouGov found 41 per cent of Scottish adults found their financial position got worse during the pandemic, with 15 per cent saying their position has…
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The Bristow & Sutor Group is calling for more like-minded businesses to commit to worthy causes long-term, after achieving successful outcomes in partnership with The Money Charity. The enforcement specialists announced The Money Charity as their latest charity partner in 2021 and have committed to providing both fundraising and volunteering support for at least the next three…
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Insolvency and restructuring trade body R3 has published new research which aims to address a range of misconceptions about insolvency fees. R3’s paper, ‘Insolvency fees and the cost of regulation – the detail behind the headlines’, explains how insolvency fees are charged, paid and regulated, and provides an overview of the role of the…
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United Trust Bank (UTB) has announced that it has recruited experienced underwriter Rob Irving to its asset finance credit team. Irving is a highly experienced asset finance professional with a career in commercial banking spanning nearly 20 years. He joins UTB as senior underwriter from Wesleyan Bank and has previously held positions with Haydock Finance…
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The Resolution Foundation has warned that a typical household’s income will fall by about £1,000 this year once the effect of inflation is accounted for. The change in inflation would be the biggest real-terms fall in incomes since the mid-1970s, the think tank added. It expects inflation to peak in April at 8.3% – much…
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Entrepreneur and small business champion Martin McTague has been appointed National Chair of the Federation of Small Businesses (FSB). McTague takes over from outgoing National Chair, Mike Cherry, who has held the office for six years. Tina McKenzie, one of the best-known business figures in Northern Ireland, has been appointed FSB Chair, Policy and Advocacy.…
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